Hike in sales transactions following increased buyer interest prompts to extension of flexible, post-handover payment plans
Dubai, UAE, July 31, 2016: Dubai Properties (DP), a leading Dubai-based real estate master developer and asset manager, has announced an extension to its flexible payment plan for purchasers of property in its Serena and Arabella 2 developments located in DUBAILAND. The popularity of the offer, which was launched previously this year, resulted in a hike in sales transactions, and the extension of the offer is in direct response to renewed investor interest in the Dubai property market.
According to the second quarter 2016 real estate review by consulting firm ValuStrat, the general sentiment has been cautiously optimistic towards a recovery commencing in the H2 of 2016 and evidence from the market place showing that both investors and end-users are now completing transactions on well-located, mid-market properties. The Dubai Land Department (DLD) also released data earlier in July that showed a 92% surge in property investment levels in April and May as investment activity continues to accelerate in Dubai ahead of Expo 2020.
DP’s Extended Flexible Summer Payment Plan is tailored to cater to increasing investor interest as it brings greater ease to buyers with extended payment terms and increased flexibility in post-handover repayments for Serena and Arabella 2 communities. Units that are available on this payment plan range in price from AED 1.3m to AED 2.2m and include townhouses and villas of 2-5 bedrooms.
Marwan Al Kindi, Executive Director – Sales and Sales Operations at DP, said: “The popularity of our flexible payment plan launched earlier this year has prompted us to extend our offer, as we continue to help lead the resurgence of the Dubai real estate market. Dubai Properties is committed to delivering master-planned destinations in response to verifiable market needs with maximum financial and value-added benefits for our investors and end-users.”
As part of the terms of the offer, a 10% down-payment is made, followed by bi-annual payments over a three-year period for 30% of the purchase price. During handover, an additional 30% payment is made, and balance of the purchase price is made during the two years after final handover. The extended offer also includes discounts of 50% on DLD fees for Serena, Arabella 2and Dubai Wharf developments, as well as 100% discount on DLD fees for Manazel Al Khor in the latest destination in DP’s portfolio, Culture Village.